Public Claims Adjustment 101: How They Can Help
If you've recently suffered a significant loss, whether to your home, commercial property, or vehicle, you'll likely be working with your insurance company to try to settle the claim. Your insurance company may even send out an insurance adjuster to assess the damage and help you with an estimate for your settlement. However, it's important to remember that the insurance company's adjuster isn't your only option. Here's a look at what you should know about public insurance adjusters and the role they can take to help you.
What Is A Public Insurance Adjuster?
A public insurance adjuster serves the same basic function as your insurance company's adjuster with one notable exception. The public adjuster works for you, not your insurance company. That means that the public adjuster will be working on behalf of your financial best interests, not the best interests of your insurer. Sometimes, this can make a significant difference in the settlement process and the amount that you receive.
Who Pays For A Public Insurance Adjuster?
Unlike the insurance company's adjuster, you'll be the one responsible for paying for a public insurance adjuster. You'll have to make sure that you talk with the adjuster about their rate, which is usually a percentage of your settlement amount.
That means you don't have to pay anything up-front, but you will receive less in your settlement because the adjuster will receive a portion as their compensation. However, you're likely to receive a higher settlement amount anyway because it's in the public adjuster's best interest to get you as much as possible for your claim.
What Types Of Claims Do Public Adjusters Handle?
It's important to understand that public claims adjusters often specialize in certain types of claims. For example, some adjusters specialize in large-scale losses, such as building fires or disaster damage. Others specialize in automotive losses. Talk with a few of the public adjusters in your area to find one that specializes in the type of loss that you're dealing with. That way, you'll get the benefit of their professional expertise.
After all, when you work with an adjuster that specializes in the type of loss you're dealing with, you may even find that they know more about hidden damages and more extensive issues, allowing you to get compensation for things you may not have otherwise known were issues.
These are some of the key things to know when it comes to dealing with public insurance claims adjusters. Talk with a public adjuster in your area for more help.